Nov 2, 2012 12:00pm PDT
trillion more in defense spending. he says he will close unspecified -- end unspecified tax deductions, which he refuses to spell out because they're politically poisonous. this is the basic recipe of trickle-down economics in the reagan and bush years, both of which resulted in exploding defici deficits. what am i missing here? >> i have the benefit of meeting one on one with mitt romney and paul ryan and probing what are their thoughts with regard to taxes and defense. you're talking about the things being thrown out, but when you look at a 20% rate reduction and when you look at what rate are now, that will take the top rate to 28%. we lose 1.1 trillion a year in revenue through the deductions and exemptions and credits and exclusions. over ten years that's probably 15 trillion, when you count inflation. so all you have to do is is eliminate about a third to 40% of the deductions, exemptions and credits and exclusions, and you can be revenue neutral. with regard to defense, we're spending 4.6% of gdp on defense. he's committed to spend 4. 4 is less hanthan 4.6. my personal view is w
Oct 30, 2012 12:00pm PDT
. 200,000 defense jobs are on the line with that sequestration looming on the horizon. the president knows that. i think george allen and tim kainen that. george allen has a new ad talking about it. >> the defense cuts tim kaine are threatening over 200,000 virginia jobs. the solution is to raise taxes. that will cost even more jobs. >> i think there's making a big deal about this because then it's crucial in the state economy. it will trickle up to the presidential election as well. >> it's a huge deal in virginia. up next, the cleanup efforts. how long does it take to get things back to normal? downed trees and power lines, an all too common scene along the east coast today. this is what it looks like this afternoon not too far away on the upper west side. stop! stop! stop! come back here! humans -- we are beautifully imperfect creatures living in an imperfect world. that's why liberty mutual insurance has your back with great ideas like our optional better car replacement. if your car is totaled, we give you the money to buy one a model year newer. call... and ask one of our insur
Oct 29, 2012 12:00pm PDT
as 10 to 12 feet it looks like. this dune about 30 yards wide is the last line of defense between the ocean and the town of point pleasant beach, which is this way in front of me. there's a lot of flooding in that town already. it's for the most part evacuated because there are lakes and rivers and an inlet in the sea. all those waters are also rising, and the threat is that the ocean can connect with those waters to essentially obliterate much of the town. it's the same story for many communities up and down the jersey shore in the path of the stor storm. i gather we're the target and bull's eye at in the point. we're really feeling it here. the rain is going sideways. it's wind yichy. the gusts were up to 30 miles per hour. i'm turning this way because there's sand flying off the dune. i have to keep my back down to it to protect my face. it feels like sleet. the town is evacuated, and we've been out and about to see what's going on. police have been going through the neighborhoods trying to make sure that people have evacuated. we've heard reports of two occasions where they ha
Nov 1, 2012 12:00pm PDT
for ryan and it's something that he's not going to have to spend as much time on the defensive about. by the way, if romney loses, i think i said this last time, if romney loses ohio by a half point or a point, there's going to be second-guessing should he have picked rob portman for the political expedience. >> there's going to be second-guessing on a lot of things. >> oh, yeah. >> michael crowley, thanks for joining us. >> thanks, guys. >> it has been a tough week for the country, and obviously our thoughts are with all those who are struggling through the aftermath of sandy. i know on a personal note, my old neighbors in hoboken, i saw my building under water yesterday on television where i used to live, and that was jarring. one great thing about america is being able to laugh about our troubles. jon stewart had this two views of new york that emerged after sandy. >> there's been no electricity after the substation exploded just around there up 14th street. >> al, al, what is that on your back, al? >> it's a machete, jon. see, there's two types of folks down here in no-juicetown.